Kingboard Laminates Holdings Limited (1888.HK) stock analysis

In our weekly check, Kingboard Laminates Holdings Limited is graded D (A to F). Of 25 checks on debt, profit, cash flow and trend: 13 pass, warnings: 2, red flags: 10.

About Kingboard Laminates Holdings Limited

Kingboard Laminates Holdings Limited is an Industrials company (Electrical Equipment & Parts) based in Hong Kong, listed on HKSE as 1888.HK.

What our checks show for 1888.HK

Red flags

• The net margin fell by 11.6 points over 5 years, to 12%: the company keeps less of each sale as profit.
• The gross margin fell by 14.5 points, to 19.6%: costs are rising faster than prices.
• Operating cash flow is only 0.49x net profit: part of the reported profit does not arrive as cash.
• Revenue fell 3% a year over the last 3 years.
• Free cash flow is negative (-0.4% of revenue): the business spends more cash than it brings in.
• The dividend takes 621% of profit: little cushion if profit falls.
• The price swings a lot: 94.1% annual volatility. Expect large ups and downs.
• The stock has fallen as much as 84% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 8 years.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Operating profit covers interest only 2.1 times: a weak year could make the payments hard.
• Beta 1.54: the stock usually moves more than the market, both up and down.

Strengths

• Net debt is only 0.8x a year of EBITDA: the balance sheet has room.
• Analysts expect earnings per share to grow about 83.9% a year over the next years.
• Analysts expect revenue to grow about 44% a year over the next years.
• Analysts expect the net margin to improve by 10.4 points from today's 12%.
• A large company: market value $15.15 billion.
• Actively traded: about 87.1 million shares a day.

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Questions

What grade does Kingboard Laminates Holdings Limited (1888.HK) have?

In our weekly check, Kingboard Laminates Holdings Limited is graded D (A to F). Of 25 checks on debt, profit, cash flow and trend: 13 pass, warnings: 2, red flags: 10. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of 1888.HK stock?

This week's biggest flags for Kingboard Laminates Holdings Limited: Margins falling, Gross margin falling, Profits not backed by cash. In total 12 of 25 checks show a warning or a red flag.

What does Kingboard Laminates Holdings Limited do?

Kingboard Laminates Holdings Limited is an Industrials company (Electrical Equipment & Parts) based in Hong Kong, listed on HKSE as 1888.HK.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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